LaMont works for a company in downtown Chicago. The company encourages employees to use public transportation (to save the environment) by providing them with transit passes at a cost of $304 per month. Required: a. If LaMont receives one pass (worth $304 ) each month, how much of this benefit must he include in his gross income each year? b. If the company provides each employee with $304 per month in parking benefits, how much of the parking benefit must LaMont include in his gross income each year? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. If LaMont receives one pass (worth \$304) each month, how much of this benefit must he include in his gross income each year? Required information Problem 12-48 (LO 12-3) (Algo) [The following information applies to the questions displayed below.] Jarvie loves to bike. In fact, he has always turned down better-paying jobs to work in bicycle shops where he gets an employee discount. At Jarvie's current shop, Bad Dog Cycles, each employee is allowed to purchase four bicycles a year at a discount. Bad Dog has an average gross profit percentage on bicycles of 25 percent. During the current year, Jarvie bought the following bikes: Problem 12-48 Part a (Algo) a. What amount is Jarvie required to include in taxable income from these purchases